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- Trigg Mining (TMG) has further expanded its Lake Throssell Sulphate of Potash Project via a new tenement application
- The tenement covers interpreted extensions to the south of the project and brings the total area 937 square kilometres
- The application also covers a 55 kilometre stretch of the Great Central Road, further improving Lake Throssell’s access and layout options
- Trigg is planning to conduct a maiden air-core drilling program at the project in Laverton, WA, next week
- The drilling will help establish a maiden JORC mineral resource estimate for Lake Throssell
- Meantime, the company has updated its recent $2.3 million renounceable rights issue, with rights beginning trade today
- Trigg Mining shares are trading up 2.34 per cent at 17.5 cents
Potash explorer Trigg Mining (TMG) has expanded its Lake Throssell Sulphate of Potash Project via a new tenement application.
Trigg’s flagship Lake Throssel Project is located east of Laverton in Western Australia, and this new tenement brings its total area to 937 square kilometres.
New tenement
This new tenement covers interpreted extensions to the palaeovalley to the south and is adjacent to the company’s other tenements.
Trigg also said it covers potential extensions of the palaeochannel to the south-east beyond the existing tenement area.
Additionally, the new tenement includes a 55 kilometre stretch of the Great Central Road — meaning it will improve the overall access to Lake Throssell.
It will also help with the project’s overall layout options and future logistical operations.
Drilling campaign
The expansion to Trigg Mining’s footprint at Lake Throssel comes as the company gears up to commence its maiden aircore drilling program at the site.
The program has been designed to test the palaeochannel, defined by a recent gravity survey, and drilling is on track to begin next week.
A total of 23 holes will be drilled, with the results to go towards helping establish a maiden JORC Mineral Resource Estimate for Lake Throssell
Rights issue
The maiden drilling program looks set to be well funded, as Trigg recently announced a $2.3 million renounceable rights issue.
Those rights have now begun trading under the ticker code TMGR, with shareholders able to receive two new shares for every seven shares already held.
New shares are priced at 14 cents each and every second new share will come with an attaching option, exercisable at 25 cents each by October 31, 2022.
The rights will cease trading on October 6, while the offer will close on October 13.
Currently, Trigg Mining shares are trading up a slight 2.34 per cent at 17.5 cents per share at 12:43 pm AEST.
